SSSB launches second Taiwan convertible

Schroder Salomon Smith Barney rolled out a $220m (€240.6m) convertible bond on Wednesday for Yageo, a Taiwanese resistor manufacturer which wants to build up its capacity in Asia.

The deal for Yageo, which is expected to price after the market closes in Taiwan on Thursday, is SSSB's second Asian convertible of the year. It comes in the wake of a similar $200m bond it ran last week for Acer, a Taiwanese computer and mobile phone manufacturer.